Monday Statistics (well actually Tuesday)
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 182active listings and 121 sale pendings
Gilroy has 142 active listings and 222 sale pendings
San Martin has 35 active listings and 12 sale pendings
Area 1 (all of the above) has 357 active listings and 354 sale pendings
Inventory continues to fall and sales continue to increase. Right now we are almost neck in neck with active and sales in Area 1. Certain price ranges (under $400,000) are hot right now with multiple offers. The quality listings that are priced well are selling quickly. Buyers should be ready with their prequalification letters from their lender and an understanding of what is going on in the market. Although, within the next 30 days, we will be seeing an influx of bank owned property coming on the market that could slow things down a little. Short sales seem to be getting tougher and are not necessarily the great deals we once thought.
Stay tuned for regular updates!